Every company has certain inflection points during its lifespan. Guiding them through these successfully are a clear vision, solid objectives, tools and processes. Or, they encounter pitfalls such as: insufficient accountability among the initiative owners, no clear roadmaps (actions, milestones, financial objectives), lack of resources/expertise, and/or failure to engage stakeholders/overcome institutional resistance/lack of prioritization.
To counter this, here are four steps:
- Analyze situation: talk with internal and external stakeholders, develop initial hypotheses of value-creating improvements
- Establish case for change: consider internal and external factors, ensure board and senior leadership are in agreement and can speak with one voice, clear bias for action, engage with employees
- Develop transformation roadmap: identify clear milestones, resource initiative teams, set up governance, launch communications
- Obtain quick wins: plan/develop broader initiatives, set overall strategy
Does your organization guide through inflection points, or have pitfalls?
